Marsons Ltd
Incorporated in 1976, Marsons Ltd
is engaged in manufacturing of transformers in the capacity range of 100 MVA 132KV class[1]
- Market Cap ₹ 3,103 Cr.
- Current Price ₹ 180
- High / Low ₹ 356 / 115
- Stock P/E 101
- Book Value ₹ 7.12
- Dividend Yield 0.00 %
- ROCE 33.8 %
- ROE 36.5 %
- Face Value ₹ 1.00
Pros
- Company has reduced debt.
- Company is almost debt free.
- Debtor days have improved from 487 to 148 days.
Cons
- Stock is trading at 25.3 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Promoter holding has decreased over last 3 years: -42.7%
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Industrials Capital Goods Electrical Equipment Other Electrical Equipment
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2011 | Jun 2012 15m | Mar 2016 9m | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|
| 106 | 116 | 103 | 100 | 17 | 0 | 6 | 168 | 186 | |
| 93 | 104 | 90 | 97 | 64 | 20 | 5 | 143 | 158 | |
| Operating Profit | 13 | 11 | 13 | 3 | -47 | -19 | 1 | 25 | 27 |
| OPM % | 12% | 10% | 12% | 3% | -283% | -5,506% | 18% | 15% | 15% |
| -1 | 3 | 1 | 1 | -8 | -1 | 0 | 3 | 4 | |
| Interest | 5 | 9 | 8 | 10 | 5 | 0 | 0 | 0 | 0 |
| Depreciation | 1 | 2 | 3 | 2 | 32 | 3 | 1 | 0 | 0 |
| Profit before tax | 6 | 3 | 3 | -8 | -93 | -23 | 1 | 28 | 31 |
| Tax % | 7% | 34% | -21% | 23% | -1% | -8% | 0% | 0% | |
| 5 | 2 | 4 | -10 | -92 | -22 | 1 | 28 | 31 | |
| EPS in Rs | 2.07 | 0.88 | 1.66 | -3.98 | -36.63 | -8.63 | 0.04 | 1.63 | 1.79 |
| Dividend Payout % | 24% | 11% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| TTM: | 2506% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| TTM: | 3857% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 47% |
| 5 Years: | 91% |
| 3 Years: | 177% |
| 1 Year: | -19% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| Last Year: | 36% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2011 | Jun 2012 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 25 | 25 | 25 | 25 | 25 | 25 | 14 | 17 |
| Reserves | 26 | 27 | 28 | 18 | -74 | -94 | 0 | 105 |
| 38 | 37 | 71 | 76 | 86 | 84 | 9 | 3 | |
| 48 | 43 | 102 | 44 | 36 | 23 | 6 | 27 | |
| Total Liabilities | 137 | 133 | 227 | 163 | 73 | 38 | 30 | 152 |
| 29 | 27 | 58 | 56 | 24 | 21 | 13 | 14 | |
| CWIP | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 10 | 10 | 10 | 10 | 0 | 0 | 0 | 37 |
| 98 | 94 | 158 | 96 | 49 | 17 | 17 | 101 | |
| Total Assets | 137 | 133 | 227 | 163 | 73 | 38 | 30 | 152 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2011 | Jun 2012 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|
| -15 | 5 | 27 | 4 | -7 | 1 | -4 | -35 | |
| -0 | -2 | -25 | -1 | 1 | -0 | -0 | -38 | |
| 10 | -5 | -3 | -4 | 5 | -2 | 4 | 74 | |
| Net Cash Flow | -5 | -1 | -1 | -0 | -0 | -1 | 0 | 1 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2011 | Jun 2012 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|
| Debtor Days | 209 | 116 | 372 | 144 | 907 | 10,126 | 827 | 148 |
| Inventory Days | 119 | 175 | 313 | 200 | 2 | 0 | 100 | 42 |
| Days Payable | 171 | 130 | 537 | 127 | 190 | 240 | 71 | |
| Cash Conversion Cycle | 157 | 161 | 147 | 217 | 720 | 10,126 | 687 | 120 |
| Working Capital Days | 53 | 46 | 97 | 77 | -696 | -51,382 | 75 | 151 |
| ROCE % | 14% | 2% | -101% | -89% | 34% |
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Newspaper Publication
2 Sep - Copy of Advertisement published on 2nd September 2025 relating to Notice of 48th AGM , Cut off date and e-voting information.
-
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order
2 Sep - Received purchase order ₹27,35,24,000 from Cabcon India for 38×33/11kV 10 MVA transformers; repair offer to WBSETCL included.
- Reg. 34 (1) Annual Report. 1 Sep
- Intimation Of Book Closure And Cut Off Date For The 48Th AGM Of The Company Going To Be Held On Tuesday, 23Rd September 2025 At 2:00 PM Through VC/ OAVM. 1 Sep
-
Disclosure Under Regulation 30 Of SEBI (LODR) Regulations 2015- Business Update
28 Aug - Expanded capacity to 10,000 MVA/year; submitted transformer repair estimates to WBSETCL with quoted INR amounts.
Annual reports
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Financial Year 2025
from bse
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Financial Year 2024
from bse
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Financial Year 2023
from bse
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Financial Year 2022
from bse
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Financial Year 2021
from bse
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Financial Year 2020
from bse
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Financial Year 2019
from bse
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Financial Year 2018
from bse
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Financial Year 2017
from bse
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Financial Year 2016
from bse
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Financial Year 2015
from bse
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Financial Year 2014
from bse
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Financial Year 2013
from bse
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Financial Year 2012
from bse
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Financial Year 2011
from bse
Business Overview:[1][2]
MSL is an ISO 9001:2008 certified and
CPRI, ERDA, and NABL accredited, multi
product and service organization engaged
in manufacturing, supplying, erecting, testing, and commissioning of Power and Distribution transformers of various ratings, which include 10 KVA, 50 MVA 132 kV class, up to the range of 160 MVA 220 kV class.